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Circular To Minority Shareholders


Report of the independent professional expert to the South African bank of Athens regarding the mandatory offer by GroCapital holdings
limited to acquire all or a portion of the shares in the South African bank of Athens, not already held.

SABA IER 31.10.2018

Circular Final

GroCapital Holdings Limited Announcement

NEW ALLIANCE PARTNER - HOLLARD                                                                             

18 October 2018

We are pleased to announce that the Bank, in partnership with the Hollard Group of Companies has co-created a new financial services product - Hollard Money. This partnership with Hollard

is aimed at creating a new Challenger in the retail banking sector and will support the creation of real benefits for Hollard customers. We are excited to partner with Hollard as we initially launch

a savings product to their current policy holders as an added benefit to their current value proposition.

These banking products will be distributed through over 100 Hollard Branches as well as their partner network. To register, customers will need to visit a Hollard Branch with their original ID

document and proof of address.

BENEFITS OF A HOLLARD MONEY ACCOUNT INCLUDE:

  • Having your salary or wages paid into a safe, accessible bank account
  • Withdrawing cash at any ATM (the cost is the same at any ATM)
  • Buying airtime or prepaid electricity using your cell phone or internet banking
  • Paying a variety of suppliers (e.g. funeral accounts, municipal bills, school fees) using your cell phone or internet banking
  • You can also use your Hollard Money Account for your savings needs

                                 

MORE HOLLARD MONEY ACCOUNT BENEFITS:

                                                                     

  • Sending money to other bank accounts
  • Withdrawing cash at till points when you shop (this is cheaper than withdrawing cash at an ATM)
  • Using debit orders and stop orders to pay monthly accounts
  • Paying your Hollard Funeral premiums from your Hollard Money Account
  • If you have a claim, Hollard can pay the funds straight into your Hollard Money Account
  • You will then be able to benefit immediately from the Purple Rands programme

Hollard Money customers can be directed to the Hollard Call Centre at:

Toll Free: 0800 601 016 

Email: [email protected]

IMPORTANT VAT NOTICE

01 March 2018

RE: THE INCREASE IN VALUE-ADDED TAX (VAT)

Dear Valued Client,

As you are certainly aware, the Minister of Finance announced an increase in the current Value-Added Tax (VAT) rate from 14% to 15% in the 2018 Budget speech delivered in Parliament on 21 February 2018.
The effective date for the new VAT rate is 1 April 2018. Please be advised that as from 1st April 2018 the Value-Added Tax (VAT) on all banking fees will be calculated at 15%. This change will have an effect on
the monthly fees on your account/s.

Should you require any further assistance with regards to your bank fees please do not hesitate to contact us.

SALE OF SHARES TO GROCAPITAL HOLDINGS (PTY) LTD

The South African Bank of Athens Limited is pleased to note that the Minister of Finance and the Competition authorities have provided approval for the acquisition by GroCapital Holdings (Pty) Ltd of the National Bank of Greece Group’s stake in the South African Bank of Athens Limited (“Bank of Athens”), corresponding to 99.81% of the issued share capital (the ‘’Transaction”) of Bank of Athens.

This transaction sees the majority shareholding in Bank of Athens change to GroCapital Holdings, supported by its shareholders AGH (AFGRI Group Holdings), Fairfax Africa and the Public Investment Corporation.

“The Bank is pleased by the completion of the sale and looks forward to both increasing its ability to support and enhance its relationships with its current customer base, as well as opening up new avenues for growth”, said Bank of Athens CEO, Spiro Georgopoulos.

“While the current focus of the Bank on Business Banking and Alliance Banking will certainly remain in place, there is an exciting opportunity to grow the customer base into the agricultural industry and into the associated business markets to that industry”, Georgopoulos went on to say. “The heartland of the Bank’s offering has always been in the SME space and so there is significant synergy with businesses operating in the agricultural sector. Our Alliance Banking offering also provides an interesting offering to AFGRI customers, creating the opportunity for cobranded financial services”